$20 Lady Liberty – Certified Coin Investing At Its Finest
Author: Arthur McGuire
This month’s Heritage Galleries’ auction of rare coins has turned up quite a few interesting pieces, including an 1856-O Double Eagle Certified, one of the rarest American Eagle coins in existence.
The funny thing about the original American Eagles and the $20 Lady Liberty… most of them are actually illegal to own! In fact, a jeweller got into some trouble last year after he came into ownership of a few authentic $20 Lady Liberty coins. He went to the US Mint to have them verified, and the Mint opted to simply confiscate them.
You would think that the Federal Government would overturn laws written nearly one hundred years ago to counter something that people no longer do, which is to melt down their money for the gold content… seeing as money is no longer made from gold, it’s hard to imagine someone melting a coin that might fetch them a few million dollars at an auction, favouring the thousand dollars’ worth of gold in the coin itself. Even if the jeweller had a melting pot right there in his living room, it still seems like a bit of a stretch.
It’s always interesting to keep up on rare gold coin investing news, but it can also be a little frustrating. After all, most of us will never be able to get our hands on all those incredibly rare pieces going for several million at auctions.
We can, of course, take comfort in gold coin investments in the form of the reissues, such as the $20 Lady Liberty, and even Krugerrands and Maple Leaf coins. They may not have actually been minted before the Great Depression, but they will pay off over time thanks to the ever-growing price the metal holds in the market right now.
Of course, on the upside, when you purchase gold coins you’re also dealing in a commodity that is much easier to trade in than those million dollar scarcities. You can buy gold coins in any size from a tenth of an ounce to a half-ounce to a full ounce, the $20 Lady Liberty isn’t the only option. You can’t exactly buy an American Eagle when you have a couple hundred dollars to spend and would like to go ahead and throw a few more coins into your investment.
One of the primary appeals of buying these investment grade reissues is the convenience that comes with it. You can easily move a few hundred dollars around at a time with tenth ounce coins. Maybe a single Krugerrand will never be worth two and a half million dollars, but say you have a fender bender and you’d rather not go through your insurance company. Cash in a couple small denomination Maple Leafs or American Eagles and you can easily cover the costs yourself without having to cash your entire investment out.
Of course, the other primary appeal is the incredibly strong showing precious metals have had lately. The market is still going strong and has yet to peak. This is largely due to the recession, of course. Gold always takes an inverse trend to the way the dollar goes, ensuring that, if you keep equal amounts of cash and gold on hand, you’re covered in rain or shine.
In fact, this year’s sales for the investment coins have gone on to shatter all previous records, and we are seeing such unprecedented demand that the US Mint is find it all but impossible to keep up with consumers. This is, obviously, a good sign if you’re already holding some Eagles. When it comes to supply and demand, right now, supply is low while demand is high, and this should only serve to keep the upwards trend for gold coins going strong.
So to sum it all up: It’s always good to invest in these coins, but that’s doubly true in this economy. People are finally starting to turn more and more to safer, smarter investments. Now, if only people will hold onto their gold if and when this recession ends, then perhaps we won’t see a selling frenzy some years from now, followed shortly by investors once again growing complacent and getting caught off guard by the next economic crisis.
About the Author:
Learn more about $20 Lady Liberty coins with www.GoldCoin.net and receive your free “2009 Insider’s Guide To Gold Investing.â€
Article Source: ArticlesBase.com – $20 Lady Liberty – Certified Coin Investing At Its Finest
why did the government ever stop making the gold liberty double eagle twenty dollar coin?
thank you and please have a website i can go to and check it out
In 1933, Roosevelt ended the circulation of the double eagle and made it illegal to own. That year, the nation was taken off the gold standard making them no longer legal tender. The nation abandoned the gold standard in order to soften the effects of the Depression, because people were hoarding gold due to financial instability, and the fact that European nations had done so as well to fund the very expensive World War I.
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